Q67 - How Would I Improve The Wirehouse Brokerage Model?

I admit it, I critique the wirehouse brokerage model a LOT.Considering how much it contrasts with the RIA model, there’s lots to be critiquing!What if the wirehouse model could be improved though?In the latest episode of my RIA question and answer series, I discuss 8 ways the wirehouse model could become more competitive with the RIA model:Think of your advisors as your clients.Tell your advisor “clients” they are all free agents.No gimmicks with the payout.Better yet, invert your payout.Eliminate deferred compensation.No forced cross-selling.Tier your approach to compliance.Acknowledge the advisor owns the client relationship.Come take a listen!Show notes: https://TransitionToRIA.com/how-would-i-improve-the-wirehouse-brokerage-modelAbout Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 20 years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.